NEW YORK – When one of the country’s largest insurers, Pittsburgh-based Highmark Inc., finally completed the acquisition of the West Penn Allegheny Health System (WPAHS) in its hometown in April 2013, the transaction was considered quite a breakthrough as the country moves toward possibly seeing more affiliations between insurance firms and hospital operators.
By the end of last year, in December, the transaction that led to the formation of the new Allegheny Health Network was still receiving plenty of attention and, for that matter, accolades. Included was a nomination by M&A Advisor, a network of finance professionals and a provider of market research, as a finalist for “Corporate / Strategic Acquisition of the Year (Over $1 Billion)” at its 12th annual Advisor Awards. The yearly recognition honors the leading deal teams, firms and professionals whose activities set the standard for M&A transactions.
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